Debt is an American albatross: school loans, credit cards, home loans. Too often people find themselves in a vicious financial cycle, unable to save The difference between growing wealth and vying for it is following rules you should never stray from. It’s simple, not easy, but not impossible. The health of a person’s wealth can be compared to a relationship. If you want to grow old with your money, practice healthy relationship approaches to your finances.
Break Up With Debt
If you want to start a new, healthy relationship with your money, break up with bad habits - debt being the most important. This is the first thing I tell anyone who asks me how they can grow their wealth, retirement funds, or peace of mind: manage your debt.
You think you may be $10,000 in debt, but if you calculate how much you will end up paying in total before you pay it all off, it’ll be a whole lot more than just 10k — depending on your interest rate.
Getting out of debt should be your first priority because every dollar that you use to pay o...
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